|Bid||0.320 x 0|
|Ask||0.325 x 0|
|Day's Range||0.320 - 0.330|
|52 Week Range||0.241 - 0.460|
|Beta (3Y Monthly)||0.95|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.42|
April 15 (Reuters) - GCL New Energy Holdings Ltd: * CINDA FINANCIAL LEASING TO PURCHASE LEASED ASSETS FROM SHENMU JINGPU FOR RMB600 MILLION * IN ADDITION, SHENMU JINGPU CONDITIONALLY AGREED TO PAY CINDA ...
March 28 (Reuters) - GCL New Energy Holdings Ltd: * FY PRELIM PROFIT ATTRIBUTABLE RMB470 MILLION VERSUS RMB764 MILLION * FY PRELIM REVENUE RMB5,632 MILLION, UP 43% Source text ( http://bit.ly/2OvM7IK ) ...
March 28 (Reuters) - GCL New Energy Holdings Ltd: * UNITS CONDITIONALLY AGREED TO SELL & WULING POWER CONDITIONALLY AGREED TO PURCHASE 55% STAKE IN RUZHOU GCL, XINAN GCL AND JIANGLING GCL * DEAL FOR RMB246.4 ...
Moody's Investors Service has downgraded GCL New Energy Holdings Limited's corporate family rating to B2 from B1, and its senior unsecured rating to B3 from B2. "The ratings downgrade reflects the combined effect of 1) GCL New Energy's tightened liquidity and a high level refinancing risk with sizable maturing debt in 2019, as well as 2020, and 2) continued uncertainty regarding the ongoing business model of the company under the asset light strategy," says Ivy Poon, a Moody's Vice President and Senior Analyst. Moody's estimates that GCL New Energy has RMB8.5 billion of debt maturing in 2019 and a further RMB6 billion in 2020.
Feb 1 (Reuters) - GCL New Energy Holdings Ltd: * ANNOUNCES DISPOSAL OF 100% EQUITY INTEREST IN CERTAIN UNITS * DEAL FOR TOTAL OF RMB420.0 MILLION Source text for Eikon: Further company coverage:
Jan 3 (Reuters) - GCL New Energy Holdings Ltd: * TONG WAN SZE HAS TENDERED HIS RESIGNATION AS AN EXECUTIVE DIRECTOR AND CFO Source text for Eikon: Further company coverage:
Nov 16 (Reuters) - GCL New Energy Holdings Ltd: * CORNERSTONE JINGXIN FINANCIAL LEASING TO BUY HONGHE LEASED ASSETS FROM XI'AN DATANG ELECTRIC FOR RMB158.5 MILLION * CORNERSTONE JINGXIN FINANCIAL LEASING ...
Oct 24 (Reuters) - GCL New Energy Holdings Ltd: * ANNOUNCES DISPOSALS OF 80% STAKE IN HUARONG GCL NEW ENERGY AND LINZHOU XINCHUANG * DEAL FOR RMB141.8 MILLION * ANNOUNCES DISPOSALS OF 80 PERCENT STAKE ...
Moody's Investors Service has downgraded GCL New Energy Holdings Limited's corporate family rating to B1 from Ba3 and the senior unsecured rating on its USD bond to B2 from B1. "The ratings downgrade reflects the deterioration in GCL New Energy's credit quality, driven by the weakening credit profile of its parent, GCL-Poly Energy Holdings Limited," says Ivy Poon, a Moody's Vice President and Senior Analyst. The heightened business and financial pressure arising from the challenging upstream industry environment has limited the ability of GCL-Poly to provide support for its subsidiary, GCL New Energy.
Humming away in an industrial estate in the eastern Chinese resort city of Hangzhou, electric vehicle designer Automagic is one of hundreds of companies looking to ride the country's wave of investment in clean transportation. The company wants to find a niche in a crowded sector that already includes renewable equipment manufacturers, battery makers and property developers like the Evergrande Group, as well as established auto giants. "This (large number of firms) is inevitable, because whenever there is an emerging technology or emerging industry, there must be a hundred schools of thought and a hundred flowers blooming," said Zhou Xuan, Automagic's general manager, referring to Chinese leader Mao Zedong's ill-fated 1956 "Hundred Flowers" campaign aimed at encouraging new ideas.
Moody's Investors Service has placed on review for downgrade the Ba3 corporate family rating (CFR) of GCL New Energy Holdings Limited and the B1 senior unsecured rating on its USD bond. "Our review of GCL New Energy's ratings reflects the continued pressure on its credit profile from the lingering credit weakness of its parent, GCL-Poly Energy Holdings Limited," says Ivy Poon, a Moody's Vice President and Senior Analyst. "On a standalone basis, GCL New Energy's business transformation strategy of an asset light model through asset disposals would improve its financial leverage, but uncertainty remains in the lengthy negotiation process associated with the disposals, against the backdrop of an evolving policy environment, as well as the structure of disposal transactions," adds Poon.
China will speed up efforts to ensure its wind and solar power sectors can compete without subsidies and achieve "grid price parity" with traditional energy sources like coal, according to new draft guidelines issued by the energy regulator. As it tries to ease its dependence on polluting fossil fuels, China has encouraged renewable manufacturers and developers to drive down costs through technological innovations and economies of scale. The country aims to phase out power generation subsidies, which have become an increasing burden on the state.
Aug 29 (Reuters) - GCL New Energy Holdings Ltd: * HY REVENUE OF GROUP AMOUNTED TO RMB2,704 MILLION, UP 49 PERCENT * HY PROFIT ATTRIBUTABLE FROM CONTINUING OPERATIONS RMB345.2 MILLION VERSUS RMB485.0 MILLION ...
GCL New Energy Holdings Ltd. is managing the risk related to the unpredictable nature of the sun, with an insurance-like policy that will guarantee the production from solar projects it’s building in Oregon. Swiss Re AG is backing the insurance product and PNC Bank NA committed tax equity financing for the four solar farms. The insurance product, known as a “solar revenue put,” can guarantee as much as 95 percent of a farm’s expected output, and can lead to better financing terms.
China's leading solar equipment manufacturer GCL is planning a move into the electric vehicle sector, aiming to make use of its expertise in energy to gain a vital competitive advantage in an increasingly crowded industry, executives said. The firm is currently building a 5 billion yuan ($721.19 million) solar production base in a new "eco-town" at Jurong near the city of Nanjing, which will also involve the construction of solar-powered residences, warehouses and public amenities.
SHANGHAI/BEIJING (Reuters) - China's commerce ministry said a U.S. decision to subsidise renewable energy firms and impose tariffs on imported products has seriously distorted the global market and harmed China's interests, firing the latest shot in a broader trade conflict. China has lodged a complaint to the World Trade Organisation to help determine the legality of the U.S. policies, saying they not only harm China's rights but also undermine the WTO's authority, the ministry said on its website late on Tuesday.
Aug 9 (Reuters) - GCL New Energy Holdings Ltd: * BEIJING FINANCIAL LEASING TO PURCHASE HUAIBEI LEASED ASSETS I FROM XI'AN DATANG ELECTRIC FOR RMB330 MILLION * BEIJING FINANCIAL LEASING SHALL PURCHASE HUAIBEI ...
Moody's Investors Service has downgraded the corporate family rating (CFR) of GCL New Energy Holdings Limited to Ba3 from Ba2 and the senior unsecured rating on its USD bond to B1 from Ba3. The ratings outlook is negative. "The downgrade reflects the reduced ability of GCL-Poly Energy Holdings Limited, the parent company of GCL New Energy, to provide extraordinary support to GCL New Energy in times of need, due to the challenging operating conditions in the solar upstream sector," says Ralph Ng, a Moody's Assistant Vice President and Analyst.
July 31 (Reuters) - GCL New Energy Holdings Ltd: * UNIT TO BUY 100MW OF SOLAR MODULES AT UNIT PRICE OF NOT HIGHER THAN RMB2.0 PER WATT FOR PHOTOVOLTAIC POWER STATION PROJECTS OF GROUP * WUXI SUNTECH AS ...
June 26 (Reuters) - GCL New Energy Holdings Ltd: * SINO IC LEASING CONDITIONALLY TO PURCHASE LANXI LEASED ASSETS FROM LANXI JINRUI FOR RMB215 MILLION * SINO IC LEASING TO LEASE LANXI LEASED ASSETS TO LANXI ...
GCL New Energy Holdings Limited (HKG:451), a renewable energy company based in Hong Kong, saw significant share price volatility over the past couple of months on the SEHK, rising toRead More...
Moody's Investors Service says that China's (A1 stable) announcement of the 7th batch of its Renewable Energy Subsidy Catalogue (RESC) is credit positive for rated renewable energy operators as it will accelerate collection of subsidies receivables and relieve liquidity pressure. " says Boris Kan, a Moody's Vice President and Senior Credit Officer. On 15 June, China's Ministry of Finance, the National Development and Reform Commission and the National Energy Administration jointly announced the 7th batch of its RESC, covering total installed capacity of about 55.8 gigawatts.
DENVER, June 14, 2018 /PRNewswire/ -- GCL New Energy, Inc., a subsidiary of the world's leading clean energy conglomerate GCL Group, has signed a long-term power purchase agreement (PPA) with Intermountain Rural Electric Association (IREA), a local power company, for its Pioneer 110MW greenfield project in Colorado. The project requires no security deposit and has low grid connection costs. Through the Pioneer project, GCL New Energy will gain valuable experience developing a U.S. greenfield project, and can create a development model for future projects.